Empowering Local Dairy: Newfoundland and Labrador's New Co-operative Venture
Source: The DairyNews
In a significant move towards local empowerment, Newfoundland and Labrador dairy farmers have established a new cooperative, supported by provincial government funding.
This initiative marks a pivotal change in the dairy sector, aiming to enhance local industry ownership and provincial food security.
The Newfoundland and Labrador Dairy Co-operative emerges as the sole locally owned and operated milk processor in the province. Crosbie Williams, a founding member and fourth-generation farmer, highlighted the cooperative's role as a strategic investment in the future sustainability of the dairy industry.
During the official launch at Pond View farms in St. John's Goulds neighborhood, Williams expressed his pride, stating, "This initiative is not only a historic moment for us but for the entire dairy industry in our province."
Scott Antle, president of the co-op, explained that the development of the co-operative had been planned for over two years. A pivotal moment for the launch was the procurement of a $10-million loan from the provincial government, facilitating the acquisition of Central Dairies from the Quebec-based Agropur. This acquisition promises to retain all existing employees and create additional management roles locally.
Although the transaction details remain under wraps, the expectation is to finalize the acquisition by the summer's end. The co-operative, representing 19 dairy farmers who produce approximately 80% of the province's milk, aims to boost milk production and innovate new dairy products.
Agriculture Minister Elvis Loveless lauded the initiative, noting the significant economic contribution of dairy production and processing—approximately $125 million annually. He praised the local farmers' efforts to further localize the industry, emphasizing that it signifies a genuine investment in a deserving sector.
This cooperative venture not only symbolizes a move towards greater local control and economic development but also ensures enhanced security and diversity in dairy production and distribution within Newfoundland and Labrador.
The Newfoundland and Labrador Dairy Co-operative emerges as the sole locally owned and operated milk processor in the province. Crosbie Williams, a founding member and fourth-generation farmer, highlighted the cooperative's role as a strategic investment in the future sustainability of the dairy industry.
During the official launch at Pond View farms in St. John's Goulds neighborhood, Williams expressed his pride, stating, "This initiative is not only a historic moment for us but for the entire dairy industry in our province."
Scott Antle, president of the co-op, explained that the development of the co-operative had been planned for over two years. A pivotal moment for the launch was the procurement of a $10-million loan from the provincial government, facilitating the acquisition of Central Dairies from the Quebec-based Agropur. This acquisition promises to retain all existing employees and create additional management roles locally.
Although the transaction details remain under wraps, the expectation is to finalize the acquisition by the summer's end. The co-operative, representing 19 dairy farmers who produce approximately 80% of the province's milk, aims to boost milk production and innovate new dairy products.
Agriculture Minister Elvis Loveless lauded the initiative, noting the significant economic contribution of dairy production and processing—approximately $125 million annually. He praised the local farmers' efforts to further localize the industry, emphasizing that it signifies a genuine investment in a deserving sector.
This cooperative venture not only symbolizes a move towards greater local control and economic development but also ensures enhanced security and diversity in dairy production and distribution within Newfoundland and Labrador.
20.09.2024
The Global Agricultural Commodity Market is expected to grow at a CAGR of 4.2% during 2025-2030
18.09.2024
GDT Price Index Up 0.8%